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Analyse the context and purpose of financial reporting

1. Analyse the context and purpose of financial reporting
Context of Finacial Reporting
a) Complying with regulatory framework
b) The governance of financial reporting including duties and responsibilities of responsible officers
c) Unincorporated or Incorporated organisation
2. Purpose of Financial Reporting:
a) Meeting user expectations and legislation
b) Ensuring all organisations comply with the same rules and standards. Seeking funding/investment.
c) Predicting future financial positions and cash flow


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